432 Shelterwood Cir · Remlap, AL 35126

$192,900

3 bd · 2.0 ba · 1,315 sqft · SingleFamily public records · 264 Days on market

Built 1978 871 sqft lot $147/sqft · at area comps Est $250k · 23% under $32/mo HOA · 2% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +17.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +3.7/10.0
• Rent growth +2.9/5.0
• Schools +2.8/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New Price! Discover your next home in the sought-after Woodhaven Lakes Subdivision, where residents enjoy lake access, fishing, swimming, tennis, Pickleball courts, basketball, and multiple playgrounds. Situated on a peaceful cul-de-sac, this property offers both privacy and charm. The main level boasts 3 bedrooms and 2 full baths, with a sunlit kitchen and dining space that looks out over the deck and expansive backyard—perfect for entertaining or relaxing. The finished basement provides even more living space, featuring a cozy wood-burning fireplace, half bath, and laundry room. Don’t miss the chance to call this beautiful home yours!

Key facts

• Tennis
• Pickleball courts
• Swimming

Tags

• LAKE ACCESS
• FISHING
• SWIMMING
• TENNIS
• PICKLEBALL COURTS
• BASKETBALL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $193k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (13.1% below list).
• Recommended offer: $168k (13.1% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.4% in Remlap — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Blount County (rural): math 20% / reading 45% proficiency, ranked #54 of 129 in AL (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.6%/yr); 186 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 13 units permitted in Blount County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Blount County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 264 days — a 12% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $27k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $193k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,710 (13.1% below list)

Questions for the listing agent

1. It's been on market 264 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.90%
• DSCR: 1.13
• GRM: 9.6

CMA / ARV

• ARV (median comp): $249,529
• List price: $192,900
• Delta: -22.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
629 Ridgewood Dr	0.70mi	3/2.0	1,239 (-6%)	4mo	$189,750	$153	54
221 Woodhaven Blvd	0.38mi	3/2.0	1,458 (+11%)	14mo	$249,900	$171	53
224 Driftwood Cir	0.51mi	3/2.5	1,510 (+15%)	5mo	$165,000	$109	46
6204 Pinebrook Cir	0.65mi	3/2.0	1,456 (+11%)	21mo	$250,000	$172	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.61% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.53×
• Total profit: $-25,328
• Equity at exit: $28,762

10-year hold

• IRR: -6.4%
• Equity multiple: 0.61×
• Total profit: $-20,839
• Equity at exit: $16,678

Cash invested: $54,012 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Alabama: 90 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

Right-to-evict in 7 days for non-payment; no rent control; preempted statewide; courts move quickly.

Methodology + full state rankings →

ZIP-level market 35126

• Home prices YoY: -22.4%
• Rents YoY: 1.6%
• Active inventory: 186
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,677 medium
• Mortgage (P&I): −$1,012
• Tax from tax record: −$71 /mo · $847/yr
• Insurance: −$80
• HOA: −$32
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $130

Break-even live

Break-even rent $1,512

Max offer price $192,900

Occupancy floor 87%

Sensitivity live

Price	-10% $240	-5% $185	+0% $130	+5% $76	+10% $21
Rent	-10% $-2	-5% $64	+0% $130	+5% $197	+10% $263
Rate	-1.0pp $228	-0.5pp $179	base $130	+0.5pp $80	+1.0pp $30

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $48,225
• Closing costs: $5,787
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
375 Ridgewood Dr Remlap, AL	4.0	2.0	1344	$1,581	$1.18	44d	1	0.69mi

HOA detail

• Monthly dues: $32 · $384/yr
• Likely covers: landscaping

Listing history 10 events

1. 2026-05-07
   price $192,900 656-char remark

   Show marketing remark (656 chars)

   New Price! Discover your next home in the sought-after Woodhaven Lakes Subdivision, where residents enjoy lake access, fishing, swimming, tennis, Pickleball courts, basketball, and multiple playgrounds. Situated on a peaceful cul-de-sac, this property offers both privacy and charm. The main level boasts 3 bedrooms and 2 full baths, with a sunlit kitchen and dining space that looks out over the deck and expansive backyard—perfect for entertaining or relaxing. The finished basement provides even more living space, featuring a cozy wood-burning fireplace, half bath, and laundry room. Don’t miss the chance to call this beautiful home yours!

2. 2026-03-25
   price $200,000 656-char remark

   Show marketing remark (656 chars)

   New Price! Discover your next home in the sought-after Woodhaven Lakes Subdivision, where residents enjoy lake access, fishing, swimming, tennis, Pickleball courts, basketball, and multiple playgrounds. Situated on a peaceful cul-de-sac, this property offers both privacy and charm. The main level boasts 3 bedrooms and 2 full baths, with a sunlit kitchen and dining space that looks out over the deck and expansive backyard—perfect for entertaining or relaxing. The finished basement provides even more living space, featuring a cozy wood-burning fireplace, half bath, and laundry room. Don’t miss the chance to call this beautiful home yours!

3. 2025-11-14
   price $210,000 656-char remark

   Show marketing remark (656 chars)

   New Price! Discover your next home in the sought-after Woodhaven Lakes Subdivision, where residents enjoy lake access, fishing, swimming, tennis, Pickleball courts, basketball, and multiple playgrounds. Situated on a peaceful cul-de-sac, this property offers both privacy and charm. The main level boasts 3 bedrooms and 2 full baths, with a sunlit kitchen and dining space that looks out over the deck and expansive backyard—perfect for entertaining or relaxing. The finished basement provides even more living space, featuring a cozy wood-burning fireplace, half bath, and laundry room. Don’t miss the chance to call this beautiful home yours!

4. 2025-09-08
   listed $220,000 Active 656-char remark

   Show marketing remark (656 chars)

   New Price! Discover your next home in the sought-after Woodhaven Lakes Subdivision, where residents enjoy lake access, fishing, swimming, tennis, Pickleball courts, basketball, and multiple playgrounds. Situated on a peaceful cul-de-sac, this property offers both privacy and charm. The main level boasts 3 bedrooms and 2 full baths, with a sunlit kitchen and dining space that looks out over the deck and expansive backyard—perfect for entertaining or relaxing. The finished basement provides even more living space, featuring a cozy wood-burning fireplace, half bath, and laundry room. Don’t miss the chance to call this beautiful home yours!

5. 2017-09-27
   soldstatus $85,000 Sold 668-char remark

   Show marketing remark (668 chars)

   This home is located in the Woodhaven Lakes Subdivision. This neighborhood offers boat launch, fishing, swimming, tennis, basketball, along with numerous play grounds in the neighborhood. The HOA fees are $360 per year. This property is located on a cup-de-sac with great privacy. There are 3 bedrooms and 2 full baths on the main level. There is a large window over the kitchen sink overlooking a large deck and the large backyard area. The basement level offers a man cave with a wood burning fireplace and a half bath. The washer/dryer hookup is also downstairs. The basement has two garage doors and space for a workshop. Don't let this one get away at this price!

6. 2017-09-26
   soldstatus $85,000
7. 2017-09-23
   historical 668-char remark

   Show marketing remark (668 chars)

   This home is located in the Woodhaven Lakes Subdivision. This neighborhood offers boat launch, fishing, swimming, tennis, basketball, along with numerous play grounds in the neighborhood. The HOA fees are $360 per year. This property is located on a cup-de-sac with great privacy. There are 3 bedrooms and 2 full baths on the main level. There is a large window over the kitchen sink overlooking a large deck and the large backyard area. The basement level offers a man cave with a wood burning fireplace and a half bath. The washer/dryer hookup is also downstairs. The basement has two garage doors and space for a workshop. Don't let this one get away at this price!

8. 2017-08-20
   price $114,900 668-char remark

   Show marketing remark (668 chars)

   This home is located in the Woodhaven Lakes Subdivision. This neighborhood offers boat launch, fishing, swimming, tennis, basketball, along with numerous play grounds in the neighborhood. The HOA fees are $360 per year. This property is located on a cup-de-sac with great privacy. There are 3 bedrooms and 2 full baths on the main level. There is a large window over the kitchen sink overlooking a large deck and the large backyard area. The basement level offers a man cave with a wood burning fireplace and a half bath. The washer/dryer hookup is also downstairs. The basement has two garage doors and space for a workshop. Don't let this one get away at this price!

9. 2017-08-15
   listed $124,900 Active 668-char remark

   Show marketing remark (668 chars)

   This home is located in the Woodhaven Lakes Subdivision. This neighborhood offers boat launch, fishing, swimming, tennis, basketball, along with numerous play grounds in the neighborhood. The HOA fees are $360 per year. This property is located on a cup-de-sac with great privacy. There are 3 bedrooms and 2 full baths on the main level. There is a large window over the kitchen sink overlooking a large deck and the large backyard area. The basement level offers a man cave with a wood burning fireplace and a half bath. The washer/dryer hookup is also downstairs. The basement has two garage doors and space for a workshop. Don't let this one get away at this price!

10. 2002-09-19
    soldstatus $91,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AL · Resets to sale price

• Current annual tax: $847 · $71/mo
• Projected year-2 tax: $847 · $71/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 6 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,125
• − Mortgage interest: −$10,805
• − Property taxes: −$847
• − Insurance: −$964
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − HOA: −$384
• − Depreciation: −$5,612
• Taxable loss: −$1,707
• Est. tax savings @ 24.0%: +$410
• After-tax cash flow: $1,974/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Blount County
• NCES district ID: 0100420
• Math proficiency: 20% ▼ -25.00%
• Reading proficiency: 45% ▼ -1.00%
• Median HH income: $45,961
• Composite: 27.79/100
• National rank: #6891
• State rank: #54 of 129 in AL

Livability — Remlap

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Remlap, AL
• County: Jefferson County · 527,445 people
• City population: 2,793
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 22,599
• Household income: $83,732
• Rent vs Own: 14.6% rent · 85.4% own
• Severe rent burden: 267.0

Population outlook (Blount County) Hauer SSP2

• Today (2025): 57,983 people
• By 2030: 57,405 · -1.0%
• By 2040: 55,602 · -4.1%
• By 2050: 53,393 · -7.9%
• By 2075: 48,248 · -16.8%
• By 2100: 44,190 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 58% Black 28% Hispanic / Latino 8% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 5% · Canada, China, Jamaica
• Languages at home: 92% English-only · Spanish 5% Vietnamese 1% Chinese 0%

Political lean MEDSL · Blount

• 2024 margin: Solid R (+81.0) · D 9.2% · R 90.2%
• 2008→2024 swing: -11.5pp toward R · 2008: -69.5pp · 2024: -81.0pp
• All cycles: 2024: R+81.0 2020: R+80.0 2016: R+81.4 2012: R+74.1 2008: R+69.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.52%
• Current HPI: 188.6439
• Rent YoY: ▲ 1.61%
• Metro: Birmingham-Hoover, AL
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

+112.0% since first listed

10 events — show timeline

• 2026-05-07 Price Changed $192,900 Greater Alabama MLS
• 2026-03-25 Price Changed $200,000 Greater Alabama MLS
• 2025-11-14 Price Changed $210,000 Greater Alabama MLS
• 2025-09-08 Listed $220,000 Greater Alabama MLS
• 2017-09-27 Sold (MLS) $85,000 Greater Alabama MLS
• 2017-09-26 Sold (Public Records) $85,000 Public Records
• 2017-09-23 Delisted — Greater Alabama MLS
• 2017-08-20 Price Changed $114,900 Greater Alabama MLS
• 2017-08-15 Listed $124,900 Greater Alabama MLS
• 2002-09-19 Sold (Public Records) $91,000 Public Records

Property tax history

+11.5%/yr

Latest (2025): $847 · -13.5% YoY. Source: county tax records.